News Article for 03/18/2009
Information from the March 13, 2009 Public Hearing
Regarding County Budget & Levy Rates
PUBLIC HEARING:
THE DES MOINES COUNTY BOARD OF SUPERVISORS
INTENDS TO LEVY GENERAL BASIC PROPERTY TAX RATES
WHICH EXCEED STATUTORY MAXIMUMS
The accompanying budget summary requires a general
basic
property tax rate that exceeds the maximum rate
as established by the general assembly.
Comparison of the proposed general basic rate with the statutory maximum
3.50000 general basic tax rate and the dollar amount of the difference
between the proposed rate and the maximum rate:
Proposed General Basic Tax Rate per $1,000 of Taxable Value:
4.25000
Maximum General Basic Tax Rate per $1,000 of Taxable Value:
3.50000
General Basic Tax Dollars to be Generated in Excess of Maximum: $933.573
Major reasons for the difference between the proposed
general basic
tax rate and the maximum basic tax rate:
Unanticipated expenses incurred from the flood of
2008 and unfunded capital projects have depleted the general basic
fund. TIF increment values in excess of $99 million limits the County's
ability
for much growth in valuations.
